US Solar Market Predicted to Grow 60%, 15 GW

The recent multi-year extension of the investment tax credit will support a 60% growth in the US solar industry. This major increase will total the solar energy harvest to 15GW. The West and SouthWest regions will account for 65% of the total demand.

While all market segments are expected to grow, utility-scale pv installations will likely benefit the most, accounting for about half of newly added capacity from 2016-2019.

It is projected that the pv market will decline by 30% in 2017, due to a lower demand after the 2016 influx, but will continue to steadily grow every year through the remainder of the forecast period.